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Company name

Ortiz Construcciones y Proyectos, S.A.

Project number

13148-01

Category C projects are those that are likely to result in very limited or no adverse environmental or social impacts or risks.

E&S category
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C

Country

Regional

Sector

Energy

Status

Hold

Disclosed date

08/05/2020

Projected date at which a project will be put forward for the Board of Executive Directors’ approval.

Projected board date
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08/15/2021

Approval date

06/04/2021

Signed date

N/A

Sponsoring entity

N/A

Investment Operations Department Contact

N/A

Investment type

Syndicated amount

N/A

Financing amount

USD $ 5,000,000

Currency

USD

Project scope and objective

Ortiz Construcciones y Proyectos, S.A. ("Grupo Ortiz" or "the Company") has requested financial assistance from IDB Invest to establish an uncommitted revolving credit line (the "Line") to finance its subsidiaries suppliers in Mexico, Colombia, and Panama through the acquisition of collection rights (the "Project" or the "Operation").  The Operation included accounts receivable, the payment of which will be deferred due to the exceptional measures adopted by the Company to mitigate the impact of COVID-19 on its suppliers.

 

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Environmental and social review

IDB Invest conducts an environmental and social due diligence (ESDD) commensurate with the nature, scale, and stage of the project, and with its level of environmental and social risks and impacts. The ESDD will confirm the project E&S categorization and assess the project with respect to the client requirements in IDB Invest Environmental and Social Sustainability Policy. The results of the ESDD, including any identified gaps are described in the Environmental and Social Review Summary (ESRS) provided below. For projects approved as of 2016, any gaps with respect to IDB Invest's Environmental and Social Sustainability Policy at the time of the ESDD are addressed in the Environmental and Social Action Plan (ESAP) presented below, to comply with the date mentioned above.

ESRS & ESAP - GRUPO ORTIZ (ENG)

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Contact information

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Alternatively, you may also use the following contact information :

Client Contact

EMAIL

N/A

PHONE NUMBER

N/A

POST OFFICE ADDRESS

N/A

IDB Invest Contact

EMAIL

requestinformation@idbinvest.org

PHONE

+1(202)-566-4566

ADDRESS

1350 New York Ave NW, Washington, DC 20005

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